Navneet Education surges on BSE

Board meeting to consider and approve proposal to buy back shares


Navneet Education, formerly known as Navneet Publications (I), is in the business of educational, children and general books publication, scholastic paper and non-paper stationary products.

Navneet Education rose 5.46% to Rs. 124.6 on BSE after the company scheduled a board meeting on 20 August 2018, to consider and approve a buyback proposal of its equity shares. The announcement was made on 13 August 2018. Meanwhile, the S&P BSE Sensex was up 136.79 points or 0.36% at 37,781.69.

On the BSE, 71,000 shares were traded on the counter so far against the average daily volumes of 44,000 shares in the past two weeks. The stock had hit a high of Rs. 127.05 and a low of Rs. 120.35.

The stock hit a 52-week high of Rs. 179.85 on 18 September 2017, and a 52-week low of Rs. 108.60 on 27 July 2018.

Navneet Education reported 15.18% growth in net profit to Rs. 126.29 crore at 17.72% growth in total income to Rs. 677.05 crore in Q1 June 2018 over Q1 June 2017.